This is a retrospective look at HL ie I wasn't looking at it at the time. I had been bearish the last time I looked a year or so ago and clearly the stock has done well.I wanted to look at the candles and see what signals it gave. The "elephant bar" concept comes from Oliver Velez and refers to a large candle that suggests heavy institutional buying or selling and is used to enter with a stop below the low of the candle (or above the high)
We have hit 10 (psychological profit take level) and formed a bearish engulfing candle so watch for a pullback toward the 20 ?

HL is a financial intermediary in the UK that sells funds and ISA's to individual investors

As ever my wave counts come with a health warning (but whose don't:-) My C of Y might be a 3rd wave (with 4 and 5 still to come)
What is interesting is 2.618 times the low (14378) being close to Gann's 14400. And 6 years high to high.Chart will look more "toppy" if we start to see confirmed move below 14400

Half of America owns only 2.5% of country’s wealth. The top 1% owns a third of it.

The gap between the top 0.01% and everyone else hasn’t been this bad since the Roaring Twenties.

In 1950, the ratio of the average executive’s paycheque to the
average worker’s paycheque was about 30 to 1. Since the year 2000, that
ratio has exploded to between 300 to 500 to one.

In 2008, the total national household debt in Canada has reached an
all-time high of $1.3 trillion. A survey found that 42% of respondents
said their personal debt was rising in the past three years, and 21%said
they couldn’t manage their debt.

61% of Americans “always or usually” live paycheck to paycheck,
which was up from 49% in 2008 and 43% in 2007. The numbers are similar
in Canada.

A staggering 43% of Americans have less than $10,000 saved up for retirement.

In America today, the average time needed to find a job has risen to a record 35.2 weeks.

In 2008, the World Economic Forum rated Canada’s banking system No. 1 in the world. The U.S. came in right behind — Namibia.

It is being projected that the U.S. government will have a budget
deficit of approximately 1.6 trillion dollars in 2010. How much is that?
If you went out and spent one dollar every single second, it would take
you more than 31,000 years to spend a trillion dollars.

In February 2010, there were 5.5 unemployed Americans for every job opening.

In California’s Central Valley, 1 out of every 16 homes is in some phase of foreclosure.

U.S. banks repossessed nearly 258,000 homes nationwide in the first quarter of 2010, a 35% jump from the first quarter of 2009.

In May 2009, the number of Canadians getting regular employment
insurance benefits in reached 778,700, the highest level on comparable
records going back 12 years. During the month, the number of people
getting EI benefits grew by 9.2%, from April.

More than 24% of all homes with mortgages in the United States were
underwater (the mortgage is more than the current market value of the
home) as of the end of 2009.

This recession has erased 8 million private sector jobs in the United States.

39.68 million Americans are now on food stamps, which represents a
new all-time record. But things look like they are going to get even
worse. The U.S. Department of Agriculture is forecastingthat enrollment
in the food stamp program will exceed 43 million Americans in 2011.

If you only make the minimum payment each and every time, a $6,000
credit card bill can end up costing you over $30,000 (depending on the
interest rate).

Approximately 21% of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.

In 2010 the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined.

In 2009, U.S. banks posted their sharpest decline in private lending since 1942.

During the first quarter of 2010, the total number of loans that are
at least three months past due in the United States increased for the
16th consecutive quarter.

As of February 2009, there were 111,500 employees working in motor
vehicle assembly and parts, down 37% from its peak in 2001, according to
a Stats Canada report.

According to a Pew Research Center study, approximately 37% of all
Americans between the ages of 18 and 29 have either been unemployed or
underemployed at some point during the recession.

For the first time in U.S. history, banks own a greater share of
residential housing net worth in the United States than all individual
Americans put together.

Saturday, 25 May 2013

if this chart is driving things best guess is that the trend is still looking strong (so risk off may not persist) We got a high 6 months off the November low and stocks have followed suit but the 40 dma and angle support look strong at the moment